SBA Loan from Cit Small Business Lending Corp Helps Oklahoma Police Supply LLC

Cit Small Business Lending Corp is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Oklahoma entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Tulsa, Oklahoma was an essential business goal for Oklahoma Police Supply LLC back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Cit Small Business Lending Corp, operating out of Livingston, New Jersey. Here are the details on this Oklahoma small business loan.

SBA Loan Borrower

OKLAHOMA POLICE SUPPLY LLC
5308 E ADMIRAL PLACE
TULSA, OK 74115

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - All Other Miscellaneous Store Retailers (except Tobacco Stores)

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$472,000

Loan Approval from the SBA

Of the total $472,000 loan amount, the SBA guaranteed $354,000.

More Information on This SBA Loan

The borrower, Oklahoma Police Supply LLC, borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs. This loan was paid in full, and was closed out on 12/30/2005.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

If Oklahoma Police Supply LLC can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

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